BBIP, a London-based equity investment fund, needed to assess the Upper Peninsula Power Company (UPPCO) to support acquiring the utility from Integrys Energy Group Inc. UPPCO is a regulated electric utility providing distribution power supply service to about 52,000 customers. POWER provided independent engineering and environmental consulting services. We conducted environmental due diligence and assessed the utility’s assets, business potential and permits.

Accomplishments

Enabled BBIP to meet tight financing deadlines by quickly compiling a team of environmental professionals to conduct more than 20 Phase I ESAs on large and complex properties

Worked directly with BBIP’s legal counsel in order to speed up negotiation of transaction terms

Project Features

Seven hydroelectric generation plants, two gas turbine plants, 3,900 miles of distribution lines, six service centers and 57 substations

Financial and operational fatal flaw review

More than 20 Phase 1 ESAs and related environmental due diligence review of generation, transmission and distribution assets